China, Brazil sign deal to boost trade in corn and other agricultural products

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Farmers dry grain in Huaian, Jiangsu Province, November 2, 2021. Photo: VCG

China and Brazil have reached an agreement to strengthen cooperation in agricultural trade, including corn, soybean meal and peanuts, as China expands import of feed grains for processing agriculture more thoroughly, an expert said on Wednesday.

The General Administration of Customs (GAC) and the Brazilian Ministry of Agriculture have signed the Protocol on Phytosanitary Requirements for the Export of Brazilian Corn to China (revised edition), according to a statement posted on the ministry’s website. Chinese Commerce (MOFCOM).

“The signing of the agreement indicates that China is preparing to increase the import of corn while reducing purchases of soybeans with the aim of increasing food security,” said Li Guoxiang, a researcher at the Institute of Rural Development from the Chinese Academy of Social Sciences. the Global Times on Wednesday.

Li said China’s production of corn as feed grain is basically sufficient, while increased imports could better boost the development of the deeper agricultural processing sector.

China’s imports of feed grains, especially maize, have increased over the past two years. According to GAC data, China imported 28.35 million tons of maize in 2021, an increase of 152.2 percent from the previous year.

China mainly imported maize from the United States and Ukraine, with Brazil accounting for a small share for use as seed.

MOFCOM on Tuesday listed the agreements and other outcomes of the sixth meeting of the China-Brazil High-Level Coordination and Cooperation Committee.

During the meeting, the Chinese and Brazilian government departments also signed documents to jointly improve tax services for cross-border enterprises, strengthen bilateral trade in agricultural products, deepen cooperation on pesticides and boost investment in the technology sector. low carbon and clean.

The two countries also agreed to discuss greater integration regarding the digital economy, push for enhanced cooperation in scientific innovation, collaborate on industrial and supply chains, and enhance technology exchanges. digital.

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